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10 Skills to Master Before Launching a New Business

Launching a business is hard. Launching a business before you've done the legwork to determine your market and identify your challenges is nearly impossible. Similarly, if you're becoming the head honcho without mastering some important skills first, you may find success harder to come by.

Here are some of the most important skills any entrepreneur should know...

Ref : Entrepreneur Store
1. Microsoft Excel

Microsoft Excel is one of the most important programs in business today. It's far more than just a spreadsheet software (although that's a valuable use case, as well). Excel helps you with data analysis, financial forecasting, and many more things that are essential to running a data-driven, solutions-oriented business.

2. Public Speaking

Entrepreneurs must be able to sell their product or service to others. Whether you're pitching to investors, employees, or potential customers, public speaking will be a significant asset. With great public speaking skills, you're more likely to inspire people to see your vision and get on board with your company.

3. Developing Business Plans

Naturally, every entrepreneur needs a business plan.

4. Data Science

Data drives everything in business. As an entrepreneur, if you can successfully model and understand data, you're already a few steps ahead of the pack. Not only will you save money by not having to hire analysts, but you'll also have the skills to make informed business decisions right out of the gate.

5. Facebook Marketing

Facebook is the second-largest advertising platform on the planet, meaning it's a key tool for any entrepreneur starting out. Hitting the ground running with a Facebook marketing strategy can go a long way for your business.

6. Search Engine Optimisation

If you don't have a ton of capital to work with when you're just starting out, paid advertising may not be for you. Search engine optimisation (SEO), however, is often free and just requires a technical understanding of how to make content stand out online.

7. Copywriting

Great copywriting sells products. You can outsource your marketing and sales content to third-parties, or you can handle it yourself.

8. Online Accounting Software

When you can use Accounting Software effectively, you can handle all of your business's financial and bookkeeping needs, thereby saving money on accounting services. It'll also help you track inventory, vendor payments, invoices, and much more.

9. Generalist Skills

The best entrepreneurs never stop learning. With that in mind, check out Big Think Edge. This library is filled with lectures from Ivy League professors and world-renowned experts like Elon Musk and Malcolm Gladwell, covering some of today's most important topics.

10. Project Management

Project management is all about finding the most efficient and least wasteful way of doing something. For entrepreneurs who are likely strapped for cash after launch, that's extremely important.

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